Wealthsimple chequing fees
Wealthsimple's chequing page says there is no monthly account fee and no minimum balance fee. The lines that do have a number are an outgoing wire in Canada, overdraft interest, and an ATM fee that Wealthsimple says it reimburses. Wealthsimple is not a bank.
Last updated: October 19, 2026
Last checked: Oct 2026
What the page says Wealthsimple does not charge
Opened 19 October 2026. The comparison chart on the Wealthsimple spend page says the data was collected as of 11 June 2026. The FAQ on that page says Wealthsimple does not charge a monthly account fee or a minimum balance fee. How to get the PDF is on how to download a Wealthsimple statement.
Wealthsimple says it is not a bank. It says it is a money services business registered with FINTRAC, and that it works with banking partners. Funds in personal chequing accounts, individual and joint, are placed in trust with up to 10 CDIC member institutions. The page says that can extend CDIC protection to a combined amount up to $1 million CAD if those members failed. A joint account is registered under the primary account holder's name.
Upload the statement on Expenvo. The PDF stays on your device. Expenvo lists the lines. It does not sign in to the bank, and it does not move the money.
The fees the page does print
Amounts below are Canadian dollars, as that page writes them.
| Line | What Wealthsimple prints | What else that page says |
|---|---|---|
| Monthly account fee | None | No minimum balance fee either. |
| Foreign transaction fee | Wealthsimple does not charge one | The payment network still charges a currency conversion rate when you buy in another currency. That rate is not Wealthsimple's fee. The page contrasts this with a bank charge it describes as around 2.5%. |
| ATM | Wealthsimple does not charge an ATM fee | The ATM provider might. Wealthsimple says it reimburses eligible provider fees worldwide. It says a standard ATM fee is usually about $3.00, and that it reimburses that fee. |
| Interac e-Transfer | Wealthsimple does not charge | Sending and the fee are covered in the same FAQ answer. A daily limit is not a fee. The chart says eligible clients can send up to $50,000. |
| Outgoing wire in Canada | Flat $15 | The FAQ calls this the fee for sending wires anywhere in Canada. |
| Incoming wire | Wealthsimple does not charge | If the wire arrives in a different currency from the account, it is converted and a standard foreign exchange fee applies. SWIFT wires in US dollars and other currencies go through the international transfer feature. |
| Overdraft | No fee, plus interest from 3.95% | The chart prints that as overdraft coverage. It does not print a dollar overdraft fee. |
Interest is not a fee
The same chart prints interest rates for Core, Premium, and Generation. Those are interest the page says the account can earn. They are not fees, and they can change. This page does not copy the rates.
Questions
- Does Wealthsimple charge a monthly chequing fee?
- The spend page, with data collected as of 11 June 2026, says there is no monthly account fee and no minimum balance fee.
- How much is a Wealthsimple wire in Canada?
- The FAQ says a flat $15 to send a wire anywhere in Canada. Wealthsimple says it does not charge to receive a wire.
- Is Wealthsimple a bank?
- The page says no. It says Wealthsimple is a FINTRAC-registered money services business, and that chequing funds are placed in trust with CDIC member institutions.
Sources
Related guides
Free is $0 USD. The PDF stays on your device.